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L Brands 1st-Quarter Earnings Jump 14% as Revenue Improves

L Brands Inc.'s (LTD) fiscal first-quarter earnings jumped 14%, topping the retailer's expectations, as revenue continued to strengthen.The company, formerly called Limited Brands Inc., projected second-quarter per-share earnings of 50 cents to 55 cents, bracketing the 53- cent estimate from analysts polled by Thomson Reuters. L Brands also lifted its full-year earnings view by three cents, now projecting earnings between $2.95 to $3.15 a share.The company, which owns Victoria's Secret and Bath & Body Works, dominates the intimate-apparel and personal-care markets, and those segments have helped the retailer post same-store sales growth and improved margins.For the period ended May 2, L Brands reported a profit of $142.5 million, or 48 cents a share, up from $124.6 million, or 41 cents a share, a year earlier. The company earlier this month raised its per-share earnings view to 46 cents.Gross margin slipped slightly to 41.5% from 41.9%.The company recently reported that net sales rose ...

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